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Nov 14, 2012
11/12
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but europe was the weak spot. you said it wasn't getting any better. >> well, look, europe is definitely in this muddle through scenario. a couple issues you have to resolve. greece was given somewhat of a reprieve in terms of their financing that they have to do this week. there's a big eu summit coming up at the beginning of december. you need to see movement on two fronts for europe. something more towards a banking union would be very positive for the markets. but incrementally, you also need to see something on better growth for europe as well, because you need to see europe have a credible way to start to grow their way out of their debt cris crisis. it justin kutchcan't just be au. >> the most severe issue in the near term because greece still isn't on a sustainable path. >> if we go over the cliff, what happens to greece? >> well, you just get contagion around the globe because you'll get a substantial drag if the u.s. >> we don't talk enough about this sort of global implications. >> they're severe not ju
but europe was the weak spot. you said it wasn't getting any better. >> well, look, europe is definitely in this muddle through scenario. a couple issues you have to resolve. greece was given somewhat of a reprieve in terms of their financing that they have to do this week. there's a big eu summit coming up at the beginning of december. you need to see movement on two fronts for europe. something more towards a banking union would be very positive for the markets. but incrementally, you...
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Nov 30, 2012
11/12
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housing stays strong. >> not europe. >> not europe. not asia. >> everyone is thinking about fiscal cliff. i have to go with i'm so worried about how many promises we've made in terms of $87 trillion of stuff we're not going to be able to afford and i am afraid we never, ever come to grips with it. >> that's why i think inflation is going to be an issue, joe, for exactly what you just said. kick the can does not last at 3% interest rates. it doesn't last. >> liesman is here. what's your -- he said if the jobless rate stays high is the biggest threat to 2013. why would the economy be bad? >> i'm worried about the long-term effect of joblessness beginning to change the workforce in this country and create a permanent jobless problem in this country. i think next year is the year we want to see real progress. i'm predicting a 6.9% unemployment rate the end of the year. i say we go down a full percentage point. >> that sounds like nirvana to me. >> it's a lot of unemployed people. we're all relavist now. >> will i see you tomorrow night? >>
housing stays strong. >> not europe. >> not europe. not asia. >> everyone is thinking about fiscal cliff. i have to go with i'm so worried about how many promises we've made in terms of $87 trillion of stuff we're not going to be able to afford and i am afraid we never, ever come to grips with it. >> that's why i think inflation is going to be an issue, joe, for exactly what you just said. kick the can does not last at 3% interest rates. it doesn't last. >> liesman...
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Nov 5, 2012
11/12
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the fourth one is europe. we can't be a broke u.s. and deal with europe. we have got to have a stable fundamentally sound financial position and romney the uniter and guy who knows business will do this. we can't have four more years of this. >> what if we did? what if we do have four more years? how bad will that set us back? >> we would have -- >> can you come back from that? >> very hard from where we'll be in four more like this with 47 million food stamps and all of the other -- >> 87 million. >> he wants to transform a great country. mitt romney wants to rebuild a great country. those are two different things. >> when you say you have 3% to 4% growth in this country, how quickly and how and why? >> in the fourth quarter of next year, housing will give us a boost no matter who is elected. you'll get this energy issue really going and that's going to make every u.s. industry more competitive. i'm telling you, the energy issue is a manhattan project. that's how you got to think about it. it's the biggest thing in the world. it changes our whole position
the fourth one is europe. we can't be a broke u.s. and deal with europe. we have got to have a stable fundamentally sound financial position and romney the uniter and guy who knows business will do this. we can't have four more years of this. >> what if we did? what if we do have four more years? how bad will that set us back? >> we would have -- >> can you come back from that? >> very hard from where we'll be in four more like this with 47 million food stamps and all of...
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Nov 27, 2012
11/12
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you can't go to europe an find any solutions there. plus the fed is buying all the treasuries. >> i understand. i think the bond market is overpriced. it's the end of a 31 year bull market. i like stocks much better than bonds. >> if it means divided government and there are shall people that they don't have a big problem with it, the government -- it will grow by itself bigger, but it wouldn't be able to just add huge -- we didn't think they could add obamacare, but they did. >> we've had a permanent upward shift in the federal spending. >> but you can't do anything above and beyond that in the near future given that it will remain divided unless republicans lose the house. >> you'll need budget discipline to stay down to it a higher 24% federal spending share of gdp. you could go to 28% if you don't have budget discipline. you need budget discipline to limit the amount by which federal spending should -- >> and this piece in the journal today which says our debt is 16 trillion. people need to keep saying this because it doesn't inclu
you can't go to europe an find any solutions there. plus the fed is buying all the treasuries. >> i understand. i think the bond market is overpriced. it's the end of a 31 year bull market. i like stocks much better than bonds. >> if it means divided government and there are shall people that they don't have a big problem with it, the government -- it will grow by itself bigger, but it wouldn't be able to just add huge -- we didn't think they could add obamacare, but they did....
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Nov 13, 2012
11/12
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you'll see in europe, similar moves there. right now the cac down by 1% as is the dax. ftse 100 down almost 1% in london. in asia overnight, markets closed slightly lower there. kospi off by 2%. shanghai composite 1.5%. hang seng by just over 1%. oil prices this morning slightly lower. down about 82 crepts. ten year note 1.58%. been a while since we've seen below 6%. the dollar is down against the yen, but up against the euro. euro is all the way back at 1.2677. dollar-yen at 679. 36 and gold prices are down about $6. >> time to go across the pond to kelly evans. >> those levels give and you good sense of what's happening out here. it's not pretty. definitely a risk off kind of morning and it has everything to do with greece. first weed had the spat between lagarde and euro group president where yoger seemed to indicate greece would be given more time and lagarde publicly said not so fast. so while you have the official bodies disagreeing, "grease" today going to market to raise short term funds to stave off defau default. 5 billion was the amount of the role over but o
you'll see in europe, similar moves there. right now the cac down by 1% as is the dax. ftse 100 down almost 1% in london. in asia overnight, markets closed slightly lower there. kospi off by 2%. shanghai composite 1.5%. hang seng by just over 1%. oil prices this morning slightly lower. down about 82 crepts. ten year note 1.58%. been a while since we've seen below 6%. the dollar is down against the yen, but up against the euro. euro is all the way back at 1.2677. dollar-yen at 679. 36 and gold...
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Nov 15, 2012
11/12
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so europe is officially in recession. the trouble is the decline was roughly in line with expectations. so dead in italy tick up a bit. off sit picture in spain. so not strong but still expects caution. on the equity side, we're seeing red arrows for the most part. the xetra dax down better than half a percent as the german economy raising some eyebrows. the cac 40 down 0.2%. the ibex trying to buck the trend and aed 0.4% this morning. but keeping with the sort of grim theme that's playing out, h and m reported numbers. they came out sharply negative rely it difference to what was expected. indicating softness in demand. here is just a seven day chart. but certainly as we gear up for walmart and target in the ut.s. increasing contrast. what's happening on the eurozone side. expects 2.5% contraction in the economy next year as the macro situation gets worse, the debt dry sis will only be called less resolvab resolvable. >> kelly, thank you very much. when we come back on squawk, we we are question wling what's rey at stake
so europe is officially in recession. the trouble is the decline was roughly in line with expectations. so dead in italy tick up a bit. off sit picture in spain. so not strong but still expects caution. on the equity side, we're seeing red arrows for the most part. the xetra dax down better than half a percent as the german economy raising some eyebrows. the cac 40 down 0.2%. the ibex trying to buck the trend and aed 0.4% this morning. but keeping with the sort of grim theme that's playing out,...
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Nov 12, 2012
11/12
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boyd jeffries name. >> what was it exposure in europe? >> egan had all sorts of rhymes and reasons for that company falling apart. >> we'll talk about shipping right now, from i-phones to apparel, cnbc's senior talent producer, lori ann larocco, our staff, incredible producer and her book "dynasties of the sea," and lori ann, reading through this, we know how important shipping is, we talk about it every day but there were things i didn't realize how much of the things in our homes are brought to us from ships. >> 92% of everything in a household has been on a ship and ever since superstorm sandy we've all realized how important shipping is as we're all going through this gasoline crisis. it's really amazing in terms of the wide breadth that the shipping industry has on the economy. >> we don't think about it all that often but as you mentioned sandy really brought that into focus. it's subject to the weather, a lot of the ships had to be diverted and it created all kinds of problems with all of us standing around on gas lines. just the i
boyd jeffries name. >> what was it exposure in europe? >> egan had all sorts of rhymes and reasons for that company falling apart. >> we'll talk about shipping right now, from i-phones to apparel, cnbc's senior talent producer, lori ann larocco, our staff, incredible producer and her book "dynasties of the sea," and lori ann, reading through this, we know how important shipping is, we talk about it every day but there were things i didn't realize how much of the...
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Nov 9, 2012
11/12
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>> europe had got an head of us on 3g. four years later the u.s. is leading the world in mobile innovation. we invented the apps economy around the world, people are using u.s. apps, mobile operating systems, we've gone in the last four years from 20% of global mobile devices having american made operating systems to 80% and networks we're leading the world in deployment of 4g at scale. this is a big deal, the next test bed for mobile innovation. the problem is that these new devices we're using more in the u.s. than anyone else, these smartphones. >> you have an iphone, apple guy? >> this is an iphone. i use all the devices. this one is on verizon. these devices put demand on our air waves, our invisible infrastructure, not a little bit more than the phones you had before, it's not double, it's not triple. 25 times more. tablets put a demand on spectrum, that's 150 times more. we need to take some bold steps with spectrum policy to address that. >> we still have dropped calls. >> julius thank you for being here. we have to have you come on in. i w
>> europe had got an head of us on 3g. four years later the u.s. is leading the world in mobile innovation. we invented the apps economy around the world, people are using u.s. apps, mobile operating systems, we've gone in the last four years from 20% of global mobile devices having american made operating systems to 80% and networks we're leading the world in deployment of 4g at scale. this is a big deal, the next test bed for mobile innovation. the problem is that these new devices...
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Nov 26, 2012
11/12
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in japan the nikkei gained 22 points and europe you're seeing more of what we've been watching of the futures here, there are red arrows there as well. the ftse down by 37 points, in france the cac is off by close to 0.9%. in germany the dax is down 0.3%. >>> brian shactman is talking about cyber monday. how much does it mean for the retail world? for a power retailer land's end is means a lot. brian is in dodgeville, wisconsin. >> reporter: andrew t is their busiest day of the year but it's interesting even though the cyber monday concept is only a few years old companies like lands end have been doing online koor busters from last wednesday through today. the classic canvas tote if you had a baby in the family, people send about 20 of them to you, they had it on sale usually $25, it was on sale for $10 starting at 5:00 a.m., it sold out in 33 minutes. they had a fleece blanket a couple days ago as a doorbuster, sold out in 11 minutes so people clearly are going on the web to find these deals and this distribution center here in dodgeville, wisconsin, is completely ready for it. they
in japan the nikkei gained 22 points and europe you're seeing more of what we've been watching of the futures here, there are red arrows there as well. the ftse down by 37 points, in france the cac is off by close to 0.9%. in germany the dax is down 0.3%. >>> brian shactman is talking about cyber monday. how much does it mean for the retail world? for a power retailer land's end is means a lot. brian is in dodgeville, wisconsin. >> reporter: andrew t is their busiest day of the...
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Nov 1, 2012
11/12
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in europe as we he heard from kelly earlier, moderate gains. ftse up by 21, cac up by 16, and germany, the dagx up by 42. in asia, green arrows there as well. the big gainer is the shanghai composite up by 1.7%. oil prices this morning are just slightly higher for wti, up by about 16 cents to 86.40. brent crude down by 20 cents. the ten year note yielding about 1.7%. yeah, 1.712%. and we have numbers headed our way, 8:15 is the adp employment report. 8:30, a sense of what's happening as things start to get back to some sort of normal reporting. you can also see right now the dollar is stronger across the board. the euro is at 1.2948 right now. gold prices up by $4 or $5. $1723.67 an ounce. >>> and cigna reporting quarterly profit of $1.71 per share, that's excluding certain items. compare to estimates of $1.36. revenues also came in above consensus with cigna benefitting from the acquisition of health spring earlier this year. we did talk about that transaction. cigna also raising its earnings forecast for the year to $5.70 to $5.90, that compa
in europe as we he heard from kelly earlier, moderate gains. ftse up by 21, cac up by 16, and germany, the dagx up by 42. in asia, green arrows there as well. the big gainer is the shanghai composite up by 1.7%. oil prices this morning are just slightly higher for wti, up by about 16 cents to 86.40. brent crude down by 20 cents. the ten year note yielding about 1.7%. yeah, 1.712%. and we have numbers headed our way, 8:15 is the adp employment report. 8:30, a sense of what's happening as things...
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Nov 6, 2012
11/12
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and it's the same story in europe. we have seen modest gains there through the course of the morning. right now you see that in france, the cac up by about 0.7%. and germany, the dax up by 5.6%. same story with the ftse in london. in asia, the nikkei closed down modestly by about a third of a percentage point. you saw modest declines in honk c congre kong and shanghai. still very long gasoline lines in new jersey and new york where it's very difficult to get any gas at all. you can see right now that wti is up about 49 cents to $86.14. the ten year, interesting to watch. the ten year at this point is only yielding 1.712%. some people wonder if that's any indication of where you think the election is headed. dollar has been another issue to watch in terms of the election. lowest we've seen in trading for a while. >> that's weird. that raises andrew's eyebrow a little bit. both are raised. it doesn't work. you just look silly. >> i can't really do --ky do my ear, but -- >> then raise one ear. because -- >> he just did it
and it's the same story in europe. we have seen modest gains there through the course of the morning. right now you see that in france, the cac up by about 0.7%. and germany, the dax up by 5.6%. same story with the ftse in london. in asia, the nikkei closed down modestly by about a third of a percentage point. you saw modest declines in honk c congre kong and shanghai. still very long gasoline lines in new jersey and new york where it's very difficult to get any gas at all. you can see right...
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Nov 28, 2012
11/12
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in europe, you'll see that there are some red arrows there as well. in france, the cac is down by about 12 points. in london, the ftse is off by 17. in germany, the dax is down by about 14.5 points. in asia overnight, same story. the hang seng was down by .6 of a percent. the shanghai composite was down by .9. the biggest loser was the nikkei. oil prices are slightly weaker, down by about 42 cents. the ten-year note at this hour is yielding 1.62%. been watching the dlampl here's something that snuck up on us. the chinese -- >> you're going to start saying that? >> you want me to call it -- >> if you start saying this other word, i'm going to learn how to say it. what made you decide? >> i'm thinking rnd, which is how they lay it out. i'm thinking rnb. >> okay, if you're going to do it, i'll practice. >> that's how they do it. >> i say yuan. if you're ready to step up -- >> i'm not really ready to. >> i'm not going to fall behind in sounding smart. i think i've done that enough. >> i pick up my own. if i'm saying it incorrectly that doesn't make me sou
in europe, you'll see that there are some red arrows there as well. in france, the cac is down by about 12 points. in london, the ftse is off by 17. in germany, the dax is down by about 14.5 points. in asia overnight, same story. the hang seng was down by .6 of a percent. the shanghai composite was down by .9. the biggest loser was the nikkei. oil prices are slightly weaker, down by about 42 cents. the ten-year note at this hour is yielding 1.62%. been watching the dlampl here's something that...
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Nov 23, 2012
11/12
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europe is down just barely. and asia, which has been trading for quite a while longer here, authorize's they're up a little bit. now let's take a look at oil. it's down a little bit. brent right around the 110 mark people have been watching. natural gas down, as well. and the ten year, my favorite gauge, 1.673. nothing's changed. the dollar, what's happening with the dollar here? 1.28. a little more strength -- not much really. >> although that's a stronger euro. big story has been the dollar-yen. some sense that there will be serious spending out of japan. finally, gold. a measure of a lot of things here. up five bucks. time for the global markets report and we have ross westgate standing by in london. any news out of mario draghi in. >> well, he's reiterated what he said for the last month. they stand ready to launch the omt should anybody actually want it. of course that means spain. but we saw with an auction yesterday just to recap really pretty good spanish auction. they raised more money, about 3.9 billio
europe is down just barely. and asia, which has been trading for quite a while longer here, authorize's they're up a little bit. now let's take a look at oil. it's down a little bit. brent right around the 110 mark people have been watching. natural gas down, as well. and the ten year, my favorite gauge, 1.673. nothing's changed. the dollar, what's happening with the dollar here? 1.28. a little more strength -- not much really. >> although that's a stronger euro. big story has been the...
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Nov 29, 2012
11/12
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in europe this morning it's more of the same. a lot of what's been happening here influencing what's happening there as well. the footsie is up about 9, 10%. in germany the dax is up by 6/10 of a percent. take a look at tiffany's. this is an outstanding loser. coming in at 49 cent as share. revenue also missing the mark and the luxury retailer is cutting its full-year forecast. tiffany is talking about continuing global economic weakness. by the way, it also has difficult comparisons to last year and saw weak comparisons as well. >> like today's disaster du jour th . the single woft. >> exact same thing. >> and they're playing a high-stakes game of chicken when it comes to the fiscal cliff. our next guest things so. joining us with the a slulgs of the crisis is greg mankiw. harvard economics professor and former chairman of president george w. bush's council of economic advisers. becky and i just distilled this argument down off camera when i was reciting what someone just wrote in. there are more republicans in washington than d
in europe this morning it's more of the same. a lot of what's been happening here influencing what's happening there as well. the footsie is up about 9, 10%. in germany the dax is up by 6/10 of a percent. take a look at tiffany's. this is an outstanding loser. coming in at 49 cent as share. revenue also missing the mark and the luxury retailer is cutting its full-year forecast. tiffany is talking about continuing global economic weakness. by the way, it also has difficult comparisons to last...
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Nov 16, 2012
11/12
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stuff yesterday about the tanks on the border in israel and you have the fiscal cliff and you've got europe and -- >> the other thing that we're watching the market and we can't own individual stocks on things, but i have been putting money in the kids' college funds. because watching the climb where you think, okay, some day it will break and then i'll put money in, and when it did finally start to break, i was like okay let's put money in the kids' college funds and feel better about that. just mutual funds . >> remember the mayans. it's december. 200 rockets be fired from -- >> so are you calling for a faber style -- >> he scared me, too. i don't want to be left with 50% of what i have now. do you? >> not at all. but maybe that's a good reason not to by in. >> there's nowhere to hide. >> all the people selling now and going into treasuries. if ire worried we go over the fiscal cliff and we get our ratings downgraded again -- >> ever since the election, i keep trying to just focus right on what we're talking about and that is this high end marginal rates on the 250 and above. obama has at
stuff yesterday about the tanks on the border in israel and you have the fiscal cliff and you've got europe and -- >> the other thing that we're watching the market and we can't own individual stocks on things, but i have been putting money in the kids' college funds. because watching the climb where you think, okay, some day it will break and then i'll put money in, and when it did finally start to break, i was like okay let's put money in the kids' college funds and feel better about...